BNB (BNB)

Why is crypto so tribalistic? I would say it's this way for a few reasons:

-Fdvs are always priced against the known competitors. Monad will be priced as a % against BNB, ETH, SOL. New DeFi apps will be priced against AAVE. This trickles all the way down to the latest projects raising as well.

-It's BTC vs. ETH. Or LIT vs. HYPE. Or CRV vs. AAVE. Or MON vs. MEGA. Or APT vs. SUI. Or ARB vs. OP. Or LINK vs. PYTH. Or dozens of others.

-The industry is very pvp. Traders, teams, exchanges, MMs, VCs, and everyone else are trying to max extract from everyone else. This creates a culture that means it's pretty 0 sum.

-Because of the pvp nature and because the native liquidity/users have been declining for years now, teams and projects are fighting over the same userbase. perp dexes are looking for the same whale traders, DeFi protocols also looking for liquidity through incentives. L1s / L2s are trying to find the best builders out of the same pool (generally).

-Tokens add another level of financial incentives